Sanctuary Advisors LLC Has $2.77 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Sanctuary Advisors LLC increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 21.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 52,767 shares of the business services provider’s stock after acquiring an additional 9,222 shares during the period. Sanctuary Advisors LLC’s holdings in Copart were worth $2,765,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Second Line Capital LLC grew its stake in Copart by 11.2% during the third quarter. Second Line Capital LLC now owns 52,619 shares of the business services provider’s stock worth $2,757,000 after purchasing an additional 5,284 shares during the period. Rehmann Capital Advisory Group grew its stake in Copart by 6.5% in the third quarter. Rehmann Capital Advisory Group now owns 7,880 shares of the business services provider’s stock valued at $414,000 after acquiring an additional 478 shares during the period. TD Private Client Wealth LLC grew its stake in Copart by 29.4% in the third quarter. TD Private Client Wealth LLC now owns 20,824 shares of the business services provider’s stock valued at $1,091,000 after acquiring an additional 4,730 shares during the period. Coldstream Capital Management Inc. grew its stake in Copart by 15.7% in the third quarter. Coldstream Capital Management Inc. now owns 27,472 shares of the business services provider’s stock valued at $1,448,000 after acquiring an additional 3,722 shares during the period. Finally, Geode Capital Management LLC grew its stake in Copart by 1.6% in the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after acquiring an additional 291,580 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CPRT shares. JPMorgan Chase & Co. raised their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird reduced their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Insider Activity

In other news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the transaction, the director now owns 7,850 shares in the company, valued at $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company’s stock.

Copart Stock Down 0.7 %

CPRT stock opened at $60.67 on Wednesday. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $64.38. The stock’s 50 day moving average is $57.30 and its 200-day moving average is $54.17. The firm has a market capitalization of $58.46 billion, a PE ratio of 42.73 and a beta of 1.31.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the company earned $0.34 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Copart Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.